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Politics

Tax exiles

32 replies

kerstina · 16/10/2010 10:13

Can anyone tell me what the Con-Dems policy on tax evaders who choose to leave this country is ? I know the Labour party were planning to take steps to make them pay. I am talking about the likes of Tracy Enim, Phil Collins ,Philip Green ,Lewis Hamilton and Michael Caine.

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Hardandsleazy · 17/10/2010 13:39

What's your concern here? Leaving aside the rules on non doms which has someone else has already said is a political bullet they may dodge, there is already a lot of legislation Eg it's harder than you think to show you are a tax exile- hmrc fought and won cases on recently and have revised their advice on this area
You can't easily leave UK sell stuff and then hope to come back. And if you want to "hide"things offshore that too is taxable. So actually it's quite hard to "avoid" UK tax as opposed to evade (ie actually do things outside the law). Therefore it's not as cheap or easy as you might think to move away
Due To what is already In the law- If gov is serious about cutting down on this area they don't need more law, they need more resource at hmrc.

I find it more of a mystery as to why emin is worth so much

whelker · 17/10/2010 13:26

The Government cannot tax anybody who has totally left the country OP so nothing will be done about people who retire/flee overseas. I think the Government will look at increasing the amount of tax that non-doms pay.

Chil1234 · 16/10/2010 12:16

Reducing the tax-exempt ceiling for private pension contributions is another tax-avoidance counter-measure.

huddspur · 16/10/2010 11:48

They are going to try and crack down on tax evasion but then so did Labour and in the end they the extra cost of chasing tax evaders meant that they got very little revenue from reducing tax evasion.

I think they are also going to look at closing loopholes in the tax system to reduce tax aviodance. Their first step was to increase capital gains tax and other methods of tax avoidance are being looked at.

Chil1234 · 16/10/2010 10:35

BTW... Tracey Emin supports various charities voluntarily so we can admire her for that. If she's paying all the tax due under the current rules then she's obeying the law. If the law still needs to be tightened that's a different matter.

Chil1234 · 16/10/2010 10:32

If you mean people who live overseas to take advantage of 'non-domiciled' status for tax reasons then I can't see it being left as is - for purely political reasons rather than to close the deficit. Tax evasion has already been mentioned by George Osborne as an area to be tackled & the Lib-Dems are keen to add tax-avoidance schemes to the list.

kerstina · 16/10/2010 10:24

Ok so Tracey Enim was threatening to leave if Labour got back in so is probably still here . She went to Art college without having to pay tuition fees but now she begrudges paying some of her wealth back into our society.These people are awful role models in my opinion.

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